Townsquare Capital LLC Lowers Stock Position in SkyWest, Inc. (NASDAQ:SKYW)

Townsquare Capital LLC cut its position in shares of SkyWest, Inc. (NASDAQ:SKYW) by 28.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,804 shares of the transportation company’s stock after selling 11,392 shares during the quarter. Townsquare Capital LLC owned approximately 0.07% of SkyWest worth $2,449,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Pitcairn Co. purchased a new position in shares of SkyWest in the 3rd quarter worth approximately $535,000. Boston Partners bought a new position in SkyWest in the 1st quarter valued at $1,275,000. Nicholas Investment Partners LP increased its position in shares of SkyWest by 82.9% during the 2nd quarter. Nicholas Investment Partners LP now owns 188,272 shares of the transportation company’s stock valued at $15,451,000 after purchasing an additional 85,356 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of SkyWest during the 2nd quarter worth $520,000. Finally, Cornercap Investment Counsel Inc. purchased a new position in shares of SkyWest in the 2nd quarter worth about $1,044,000. 81.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SKYW. Raymond James raised their price objective on shares of SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. TD Cowen lifted their price target on shares of SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $119.00 price objective on shares of SkyWest in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $105.75.

SkyWest Stock Performance

NASDAQ SKYW opened at $114.74 on Friday. The firm has a market cap of $4.63 billion, a P/E ratio of 19.61 and a beta of 1.93. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. The company’s 50 day moving average is $98.54 and its 200-day moving average is $85.09. SkyWest, Inc. has a 12-month low of $45.99 and a 12-month high of $117.51.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.92 by $0.24. The business had revenue of $912.79 million for the quarter, compared to analysts’ expectations of $896.21 million. SkyWest had a net margin of 7.29% and a return on equity of 11.02%. The business’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 EPS. Sell-side analysts predict that SkyWest, Inc. will post 7.16 earnings per share for the current year.

Insiders Place Their Bets

In other SkyWest news, insider Wade J. Steel sold 19,079 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $104.48, for a total value of $1,993,373.92. Following the completion of the transaction, the insider now directly owns 97,654 shares of the company’s stock, valued at $10,202,889.92. This trade represents a 16.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert J. Simmons sold 16,485 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $105.02, for a total transaction of $1,731,254.70. Following the completion of the transaction, the chief financial officer now directly owns 113,539 shares in the company, valued at approximately $11,923,865.78. The trade was a 12.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,467 shares of company stock worth $10,082,596 in the last quarter. 2.00% of the stock is owned by company insiders.

SkyWest Company Profile

SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.